Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1887-04-14
"BOONS."
The way They IRE Engineered
Great Real Estrtc Excitement In the
West and Houthwert.


Some weeks ago II came TO the knowl-
edge OF Jre. man that n party Of Cleve.
Isnd cRpitN lists had quietly left this city
to go On M extended tour to invrStignte
real estate matters south, ,onilwesl and
west, with view 10 making heavy pur-
chnrcp IL the outlook impressed them la
vornbly. II wHs not ulieir Intention to
risk all in any one town, but they de
signed buying In several I,tEcer, 40 us to
be sure TO realize ON boom somewhere.
The party ws composed Of gentlemen
who have had wide business and real ea.
tate experience In Cleveland, and one Mt
lerst OF them is equal to getting behind
the scenes OF almost any business enter.
tninment that lie attends.
Believing that the experience OF these
gentlemen would he OF interest to the pub
lie, the Rea man awaited their return
with the intention Of getting some one OF
them on the reportorinl rack at the esrli-
eat possible moment. The party has just
returned, and the substance Of an inter
view with the leader of the same ia given:
Eyes, we were over a good deal Of
ground, and go, on the inside, as we flat
ter ourselves, OF the real estate business OF
a good many towns. We Travelled over
1000 miles in making our trip, took our
time and got some facts that you are well
come to. Now, the frs, thing 10 under
stand before going on is wha, constitutes
boom and how does boom become a
boom. You know the papers are full Of
reports about real estate booms, and the
chances are that good many people are
yet ignorant Of not only tho meaning Of
the word as applied to land speculationo,
but also Of how these booms are brought
about. Well, whenever the land in and
about a new town begins to cell for two or
three times its former price, and when
people flock to il from all directions and
go wild, and buy at four times old prices
and sell again, discounting a generation Of
the natural growth OF the town in month
or two, you have boom. CT course some
one gets left in the end, but boom is =
great thing for the lucky ones Booms
have sometimes logical reason Tor their
existence, such as newly discovered oil,
gas and mineral, or happy conjunction
Of railroad facilities, but as rule 4 real
estate boom is the result Of ndroi,, pre-
meditaled and systematic chicane. Those
who are on the inside Of the present state
OF booms in the south, southwest and west,
where real estate speculation in many
places has gone beyond even the dignity
of n boom and has all the wildness and
glare Of mania, can give you msthemati-
cal rules by which you can start a boom
In any town that never had course OF
the disease, or which has not had one in
30 long that il Is nearly forgotten, but
real estate must be comparatively cheap
and be in poor demand in order TO get up
II real live case OF boom. All modern
booms are managed by syndicales. These
syndieates nearly always come from some
place like Chicsgo. Kansar City, Bir-
mingham or some other place where booms
have existed and have about played out.
The veterans Of other booms are the best
boom workers. This is the way the vet
Grams do il:
"They take a railroad map Of the United
States and select some town geographically
we'll located and having good railroad ia
cilities. By concert of action certain OF
the boom syndicute visit the town in q
verv quiet manner and register at different
hotels, provided there is more than une
such hotel. Quickly they go TO work and
buy up, or take options on. all vacant
lands around the town. After securing all
the land they deem necessary for their
purposes, they lease the very best rooms
they can get as real estate Offices, paying
any price therefor that may be necessary.
Rooms adjoining Offices OF hotels are IA.
| vorable locations with syndicate workers,
but failing iI these, the beat stores are Sc
cured regardless of cost. BY way OF illus.
tra,ion: At one town where we stopped
the syndicate had rented q fine billiard
room, tables and all. The tables were
piled IN one corner Of the room and wha
were oslensibly Eve, though in reality but
one, real e.tate Offices were in full blast
Alter n sufficient number OF Office place,
have been secured, suddenly, without any
warming, half dozen or more flaming rea
estate signs are hung out in various pariI
Of the town TO be doomed. The peopl,
waken TO the idea that they live in y town
Of fabulous possibilities. They have hear,
Of the marvellous ihings in real estate tha
have been done In other placer, and ar,
prepared to believe that like things are t.
happen TO their own town. Local prid,
and egotism come in with other cOnsidera.
tions, and, just ss the gentlemen of th
syndicate knew wonld happen, every citi.
zen OF the town forgeis all other affair
and begins TO talk real estate, thus givinl
the boom big impetus from the start
But the syndicate has nearly all the avail
able property in its hands. They hav
made sure that the profits Of the boon
will go into the com mon treasury OF th
syndicate.
"The next step is to secure one or tw
pages OF the local newspapers Tor ndvertis
ing purposes. Of course there are lon
editorInis put into the same paper seitin
forth the advantages OF the town for man
ufacturing and other purposes. These nc
tices are copied far and wide by the prom
inent newspapers OF the country, and Ian
begins TO change hands at y fabulous IN
crease in prices. Soon the hotels are e lie
with strangers who have been lured
the scene of excitement. Civil engineer
are employed to cut the acreage into lot
and in the space OF days, HometilneS, lo
sell for more than the former price {
: acres, and In a few weeks. perhapa, one !,
, will bring more than the whole farm ".
I opticned for in the beginning. In tn
way the price OF real estate Ia advanced
point that would not be justified by te
times the present population OF the plA.
, boomed. In some placea, like BirminI
/, ham, Alabams, the natural advantages
The section round about justify a health
advance in price. but in mosl places the
does not now appear to be any good rel
(. son for booma. As n rule, in my iud
ment, land in the places We visited b.
been Nrnined up to more than 500 p
cent. OF its intrinsic value.
n "Oh, yes. the syndicates spend lots
4 money In advertising and showing prone